ChatGPT Founder Sam Altman Launches WorldCoin

Sam Altman, the CEO of OpenAI, has co-founded a new cryptocurrency called Worldcoin. This cryptocurrency aims to tackle income inequality through its innovative World ID feature.

Key points:

  • The Worldcoin project aims to offer a digital World ID. This unique ID verifies a person’s authenticity using advanced iris scanning technology.
  • Worldcoin, founded three years ago, begins rollout on July 24th, 2023, creating a decentralized financial network and identity system accessible to everyone.
  • Worldcoin’s launch observed $145 million worth of tokens traded. Current price $2.25, source Coinmarket cap.

Worldcoin is an innovative project that aims to offer World ID. It is a digital passport that verifies an individual’s authenticity through iris scanning. This helps to ensure that the person is human and not an AI bot. The beta version of the Worldcoin cryptocurrency project has already attracted two million users. Worldcoin plans to expand to 35 cities across 20 countries. Moreover, the early investors will be rewarded with Worldcoin cryptocurrency tokens. The initial supply of Worldcoin tokens has been capped at 10 billion.

On Monday, the price of Worldcoin went up at Binance. It started at $0.15 and went up to $2.49. Today, Worldcoin stands at a current market cap of $250 million.

In the age of generative Artificial Intelligence like ChatGPT, which produces humanlike language, WorldIDs will help to differentiate between a human and an AI bot. 

Founders Thought

Blockchains have the potential to securely store World IDs while maintaining privacy and resisting control or shut down by any centralized authority,” said co-founder Alex Blania. 

People will be supercharged by AI, which will have massive economic implications,” said, Sam Altman, founder of Worldcoin.

Altman also shared the concept of UBI (Universal Basic Income). UBI is a social benefits program that the government runs where every entity is granted payments. Since AI can do much more work than humans, the UBI will help to fight income inequality. With only real people being able to access World IDs, it will reduce fraud when the UBI is deployed. 

Altman thinks that Universal Basic Income is still a long way off in the future. He is not sure who would be responsible for distributing the money. However, Worldcoin is working towards making it possible.

He further stated, “We think that we need to start experimenting with things so we can figure out what to do.”

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What is Worldcoin?

Worldcoin is an open-source protocol that aims to provide access to the global economy for everyone. One of its key features is that it’s designed to be decentralized. This means that the community of users will ultimately be responsible for its supervision and decision-making. 

Main Features of Worldcoin?

Several tools are being developed by organizations supporting Worldcoin to help it achieve its mission. These tools include:

  1. World ID: It is a privacy-preserving digital identity designed to help solve many important identity-based challenges, such as proving an individual’s unique personhood.
  2. Worldcoin Token: It is the first token to be globally and freely distributed to people for both utility and future governance. This token is given just for being a unique individual. 
  3. World App: It is a fully self-custodial app that enables payment, purchases, and transfers globally using the Worldcoin token, digital assets, stablecoins, and traditional currencies. 

World ID’s unique digital identity, can help to demonstrate humanness in a digital world inhabited by increasingly advanced artificial intelligence.

How does Worldcoin work?

Worldcoin operated in three steps:

  • Download the World App: With the World App, you can easily create your Worldcoin account. Then link it to a digital wallet that supports multiple currencies, including Bitcoin, Ethereum, and stablecoins. Tools for Humanity, a supporter of the Worldcoin network, manages the application.
  • Signup on World ID: You can use the application without signing up. However, to receive your share of digital currencies, and worldwide tokes, signing up is a must. Visit WorldCoin Operator and verify the unique personhood at Orb. This Orb here, uses biometrics to create a unique personhood and finally creates the World ID that you can use pseudonymously in several applications without revealing your identity. 
  • Now Get Free Worldcoins & Other Digital Currencies: Once the unique personhood is verified, you can use the World ID within your World Application. You can know more about digital currencies, and receive free airdrops of Ethereum, Bitcoin, and more. After the launch of the mainnet, people from countries where WorldCoin operates will be able to claim their share of free tokens. 

Looking Forward

Worldcoin is believed to unlock economic potential, while also making way for a more democratic future. Let’s stay positive and welcome new ways to share wealth for everyone as technology continues to progress.

Source: Worldcoin official site

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